Private equity-controlled Lloyd's of London insurer Brit, has struck a deal to be acquired by Fairfax Financial of Canada. The deal values the target's equity $1.9 billion and implies about a 27% premium over Brit's initial public offering in March of last year. Video

For private equity investors mergers and acquisitions are often about finding an accessible avenue for exiting an investment and a lucrative payoff for what can even be a relatively short-lived transaction. Video